Malaysia – GB Bond Debuts on the ACE Market

Our Corporate/Mergers & Acquisitions Partner, Chin Lit Fwu, together with Senior Associate, Gloria Tan and Associate, Dhyaneswar Ravindran, acted as solicitors to GB Bond Holdings Berhad (“GB Bond“) in connection with its initial public offering (“IPO“) and listing on the ACE Market of Bursa Malaysia Securities Berhad.

GB Bond and its subsidiaries are principally involved in the manufacturing and sale of industrial adhesives, emulsion polymers and sealants for a diverse range of industrial applications, including paper and packaging, fabric lamination, woodworking, and renovation and building materials.

The IPO comprised a public issue of 64.3 million new ordinary shares and an offer for sale of 42.88 million existing ordinary shares at an IPO price of RM0.25 per share. The public issue raised approximately RM16.08 million, which is intended to be utilised for, among others, the expansion of GB Bond’s manufacturing capacity, expansion into Vietnam, working capital requirements and product development initiatives.

GB Bond’s IPO attracted strong investor interest, with the shares made available to the Malaysian public being oversubscribed by 8.22 times. Following the completion of the IPO, GB Bond was successfully listed on the ACE Market on 1 October 2026 with an enlarged issued share capital of 412.3 million shares and a market capitalisation of approximately RM103.1 million based on its IPO price.

Zul Rafique & Partners is proud to have supported GB Bond in achieving this significant corporate milestone and successfully completing its listing on the ACE Market.